SC

SC: Dismisses SLP; Sec. 244A interest not restricted to tax/penalty, allowable on interest waiver

SC dismisses Revenue’s SLP against Delhi HC judgement allowing interest u/s. 244A to assessee-individual on refund arising on account of waiver of interest u/s 220(2) by CCIT for AYs 2002-03 to 2006-07; HC

Jan 15,2018

SC: Dismisses Revenue’s SLP against Delhi HC quashing re-assessment u/s 147 based on audit-report

SC dismisses Revenue’s SLP against Delhi HC quashing re-assessement proceedings u/s 147 in the case of Alcatel Lucent India Ltd for AY 2008-09 ; HC had rejected AO’s re-opening of

Jan 12,2018

SC: Dismisses Revenue’s SLP against HC quashing block assessment; Case transfer u/s127 prospective

SC dismisses Revenue’s SLP against Bombay HC quashing block assessment for the block period 1989-90 to 1999-2000; Bombay HC had accepted assessee’s stand that issuance of Sec. 158BC notice by AO,

Jan 12,2018

SC: Dismisses Revenue’s appeal; Interest on non-performing ICD not taxable in NBFC's hand

SC dismisses Revenue’s appeal against Delhi HC ruling holding that interest on Inter-Corporate Deposits (ICDs) which had become non-performing asset (NPA) in terms of RBI Prudential Norms, not taxable in

Jan 12,2018

SC: Allows Trusts’ double-dip depreciation claim, Finance Act 2014 amendment not retrospective

SC dismisses Revenue’s appeal in batch of over 50 cases, allows assessees’ (charitable institutions/trusts) depreciation claim on fixed assets; Rejects Revenue’s stand that once the capital expenditure on account of

Dec 20,2017

SC: Applies 'purpose test', entertainment tax subsidy for new multiplexes not revenue receipt

SC dismisses Revenue’s appeals​​, ​holds that ​entertainment-tax ​subsidy received by multiplexes (‘assessees’) under the ​​respective subsidy schemes​ of the ​​states of Maharashtra and West Bengal ​, were capital in nature

Dec 14,2017

SC: Dismisses Revenue’s SLP against HC quashing Sec.153C notice on Pepsi Foods absent ‘satisfaction’

SC dismisses Revenue’s SLP against Delhi HC ruling in case of Pepsi Foods Pvt. Ltd. with respect to AYs 2006-07 to 2011-12 ; HC had quashed Sec. 153C notice issued

Dec 08,2017

SC: Reverses HC; Mandates 'SSI eligibility condition’ compliance for entire tax-holiday period

SC reverses Karnataka HC ruling and rules in favour of Revenue, denies Sec. 80-IB benefit as assessee ceased to be a small scale industrial undertaking (‘SSI’) in relevant AY, being 9th year of

Dec 05,2017

SC: Uncertainty looms as Justice Kaul holds CBDT's appeal filing circular 'retrospective'

SC division bench of Justice Sanjay Kishan Kaul & Justice Rohinton Nariman departs from recent co-ordinate bench ruling in Gemini Distilleries,  dismisses Revenue's appeal to hold that CBDT Instruction 3/2011

Nov 27,2017

SC: Dismisses Revenue's appeal; Advance excise duty deposit in PLA deductible u/s. 43B

SC dismisses Revenue’s appeal and upholds Delhi & Calcutta HC rulings, rules that assessee is entitled to claim deduction u/s. 43B in respect of the excise duty paid in advance in the

Nov 24,2017

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